The Digital Currency Group is relocating its headquarters to Stamford and the company is expecting to create hundreds of jobs in the state, according to Governor Ned Lamont.
The company is described by Lamont as a leading investor in bitcoin and blockchain technology companies.
It will be relocating its headquarters from New York City to Stamford.
Within the next five years, the company is expected to create more than 300 jobs in Connecticut.
“Digital Currency Group’s decision to relocate their headquarters here is the latest example of how Connecticut is the ideal location for leading-edge companies that are focused on business growth," Lamont said in part in a statement.
According to Lamont, the company decided on moving to Stamford after looking at potential sites in New Jersey and New York.
State officials said the Connecticut Department of Economic and Community Development is helping support the project by providing a grant of up to $5,011,800 that is contingent on the company creating and retaining more than 300 new full-time jobs.
The new headquarters will be in the Shippan Landing complex on Harbor Drive. The company plans on being in its new headquarters in late 2022.